First quarter real estate report finds home sales up but sales down in the Hudson Valley

The Hudson Gateway Association of Realtors says residential sales in Westchester County are down 32.7% from last year.

News 12 Staff

Apr 12, 2023, 9:56 PM

Updated 410 days ago

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Home sales are down while prices are up in the Hudson Valley, according to a new report showing real estate sales for the first quarter of 2023.
It's a seller’s market, which has some homebuyers holding off on making a purchase.
The Hudson Gateway Association of Realtors says residential sales in Westchester County are down 32.7% from last year.
"The number of sales has dropped, but that's absolutely a result of inventory,” says Leah Caro, a real estate broker and the president of Park Sterling Realty in Bronxville. “There were 759 houses for sale in all of Westchester-- that's at every price point and every community. If we roll back the clock to 2018, that would have been more like 2,000."
Caro adds that the median sale price for a single-family home in Westchester has risen to $760,000. She says it's a great time to sell but is offering clients some advice.
"There is still pent-up buyer demand, but we put it with a little caution, don't overestimate the pricing that which buyers are willing to pay,” she says.
Caro says there is hope for those who are buying, as mortgage rates are trending down.
Her advice to ensure you land a contract on the house you want is to “have an up-to-date mortgage pre-approval in hand” when going house hunting.


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